Posted on November 28th, 2009 by MoneyBlogger
I’m still in a tryptophan coma, but here’s a timely mention of the story of the turkey from Nassim Taleb’s book The Black Swan which I am (supposed to be) reading. The following excerpt is taken from the transcript of a Charlie Rose interview.
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CHARLIE ROSE: And what is the story of the turkey?
NASSIM NICHOLAS TALEB: In the book, I have the story of a turkey that is fed for 1,000 days by a butcher, and every day confirms to the turkey and the turkey’s economics department and the turkey’s risk management department and the turkey’s analytical department that the butcher loves turkeys, and every day brings more confidence to the statement. So it’s fed for 1,000 days…
CHARLIE ROSE: Gets fatter and fatter and fatter.
NASSIM NICHOLAS TALEB: Fatter and fatter. On the day when its comfort will be at its maximum, there is going to be a surprise. There will be a surprise for the turkey.
CHARLIE ROSE: Yes.
NASSIM NICHOLAS TALEB: There will be a surprise for the turkey’s economics department, all those Ph.D.’s. Will it be — after all, there’s maximum (inaudible)…
CHARLIE ROSE: But it’s not a surprise for the butcher, is it?
NASSIM NICHOLAS TALEB: Not a surprise for Charlie Rose as well. Not a surprise for humans. It’s a surprise for the turkey. So the whole idea here is we are not to be a turkey.
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Who or what do think is going to be the next turkey?
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Posted on November 27th, 2009 by DebtAway
Hi everyone. It’s Tricia here with a monthly update. I have to apologize for last month’s update since I completely forgot about it. With the excitement of Halloween, it slipped my mind. I’m a little less scatter-brained this month even with it being the Thanksgiving holiday. My mind is actually [...]
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Posted on November 27th, 2009 by DebtAway
Black Friday is usually about spending, even if that spending is to get some good deals. ING has decided to flip that equation and is offering to deposit $121 (the amount of money that the average consumer spends on banking overdraft fees each year) for signing up for thier Electric Orange checking account.
In order to [...]
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Posted on November 27th, 2009 by DebtAway
I jinxed myself.
I made the mistake of saying I’d rather be sick this weekend than pour concrete. Not only am I miserably sick, they cancelled pouring concrete because it’s raining.
I’ve been in bed since Thursday afternoon and it’s incredibly painful to speak. I can’t even moan in pain because that hurts too.
My husband [...]
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Posted on November 26th, 2009 by Canadian Capitalist
Macleans magazine’s Jason Kirby on the lessons investors should learn from the fall of 2008 (but probably won’t). Somewhat predictably, David Trahair is still making the case for GICs by ignoring dividend income from stocks.
In theory investors can diversify away non-systemic risk with a portfolio consisting of a random selection of 10 to 40 stocks. [...]
This and That: Lessons from the Crash and more… is brought to you by Canadian Capitalist — Helping you to invest & prosper.
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